Banco Santander Chile Announces Pricing of US$500 Million of 2.875% Senior Notes Due 2012

SANTIAGO, Chile -

Banco Santander Chile (NYSE: SAN; SSE: Bsantander) today announced the pricing of US$500 million of its 2.875% Senior Notes due 2012 in a private offering.

The proceeds from this private offering will be used to finance the Bank’s lending activities.

The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act of 1933, as amended. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Institutional Background

As per the latest public records published by the Superintendency of Banks of Chile for September 2009, Banco Santander Chile was the largest bank in Chile in terms of loans and branches. The Bank’s main shareholder is Santander, which controls 76.91% of Banco Santander Chile.

CONTACT INFORMATION Robert Moreno Manager, Investor Relations Department Banco Santander Chile Bandera 140 Piso 19, Santiago, Chile Tel: +562-320-8284 Fax: +562-671-6554 Email: rmorenoh@santander.cl Website: www.santander.cl

Source: Banco Santander Chile

Robert Moreno, Manager, Investor Relations Department, Banco Santander Chile, +562-320-8284, or fax, +562-671-6554, rmorenoh at santander.cl